Hess Midstream (NYSE:HESM) Sets New 52-Week High at $30.54

Hess Midstream LP (NYSE:HESM)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $30.54 and last traded at $30.27, with a volume of 8193 shares. The stock had previously closed at $29.71.

A number of brokerages recently issued reports on HESM. Wells Fargo & Company lifted their price target on shares of Hess Midstream from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, December 16th. Zacks Investment Research raised shares of Hess Midstream from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a report on Friday, October 22nd. Credit Suisse Group lifted their target price on shares of Hess Midstream from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, October 15th. Morgan Stanley cut shares of Hess Midstream from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $31.00 to $32.00 in a research note on Friday, January 7th. Finally, Citigroup lowered shares of Hess Midstream from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Tuesday, September 28th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $29.75.

The stock’s 50 day moving average price is $26.23 and its 200 day moving average price is $25.83. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 18.45 and a beta of 2.01.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, October 27th. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The company had revenue of $303.90 million for the quarter. During the same period in the prior year, the company posted $0.31 earnings per share. On average, analysts anticipate that Hess Midstream LP will post 1.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Thursday, November 4th were paid a dividend of $0.51 per share. The ex-dividend date was Wednesday, November 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.78%. This is an increase from Hess Midstream’s previous quarterly dividend of $0.50. Hess Midstream’s dividend payout ratio is currently 126.71%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd increased its position in Hess Midstream by 34.1% during the 3rd quarter. WINTON GROUP Ltd now owns 39,275 shares of the company’s stock worth $1,108,000 after purchasing an additional 9,984 shares in the last quarter. First Trust Advisors LP increased its position in Hess Midstream by 844.4% during the 2nd quarter. First Trust Advisors LP now owns 702,069 shares of the company’s stock worth $17,727,000 after purchasing an additional 627,732 shares in the last quarter. Clearbridge Investments LLC increased its position in Hess Midstream by 8.8% during the 2nd quarter. Clearbridge Investments LLC now owns 518,000 shares of the company’s stock worth $13,080,000 after purchasing an additional 42,000 shares in the last quarter. Dividend Assets Capital LLC increased its position in Hess Midstream by 2.5% during the 3rd quarter. Dividend Assets Capital LLC now owns 51,801 shares of the company’s stock worth $1,461,000 after purchasing an additional 1,282 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Hess Midstream during the 2nd quarter worth approximately $422,000.

About Hess Midstream (NYSE:HESM)

Hess Midstream LP engages in the ownership, development and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. It operates through the following segments: Gathering, Processing and Storage and Terminaling and Export. The Gathering segment consists of natural gas and crude oil gathering and compression.

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